Budget & Taxes

in committee · Connecticut · Senate Feb 20, 2026

SB 104: AN ACT ESTABLISHING A CAPITAL GAINS SURCHARGE.

SB 104 would impose a 1.75% surcharge on net gains from selling capital assets (like stocks or real estate) for Connecticut taxpayers with adjusted gross income meeting the threshold for the state's highest and second-highest marginal tax brackets. It directly affects high-income earners whose income level triggers the top tax rates under current law. The surcharge applies only to capital gains, not ordinary income, and is calculated as a percentage of the net gain from qualifying sales. This is a specific tax rate change affecting a defined income group, not a broad policy overhaul.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 1.75% surcharge on high-income capital gains, closing a tax loophole and increasing revenue for state budget.95% confidence

Sub-Topics Fees & Licensing

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in committee · Connecticut · Senate Feb 4, 2026

SB 38: AN ACT ESTABLISHING A CAPITAL GAINS TAX ON CERTAIN ENDOWMENT FUNDS OF INSTITUTIONS OF HIGHER EDUCATION AND CONCERNING THE USE OF THE REVENUE GENERATED.

SB 38 imposes a capital gains tax on endowment funds at institutions of higher education valued at over $500,000 per student. The tax applies to growth in these endowments and generates revenue specifically for reducing required contributions to Connecticut's Paid Family and Medical Leave Insurance Program (Section 31-49g). This bill directly affects public and private universities meeting the per-student endowment threshold. The policy change shifts revenue from higher education endowments to lower costs for workers participating in the state's leave insurance program.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes new tax on university endowments to generate revenue specifically for funding Connecticut's Paid Family and Medical Leave program, increasing state revenue for public services.95% confidence ✓ HealthcareSupports HealthcareBill allocates revenue from endowment tax to reduce contributions to Connecticut's Paid Family and Medical Leave Insurance Program, directly expanding healthcare coverage funding.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill redirects endowment tax revenue to fund Connecticut's Paid Family and Medical Leave Program, directly supporting worker benefits and employment protections.90% confidence

Sub-Topics Paid Leave

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in committee · Connecticut · Senate Feb 20, 2026

SB 102: AN ACT CONCERNING THE DISTRIBUTION OF THE SALES AND USE TAXES IMPOSED ON MEALS SOLD BY AN EATING ESTABLISHMENT, CATERER OR GROCERY STORE.

SB 102 redirects an additional 1% sales tax on meals sold by restaurants, caterers, and grocery stores to the specific municipalities where the sales occur. The bill requires that this tax revenue, collected from food purchases at these businesses, be distributed directly to the local governments (cities or towns) where the transactions happened. This changes how the tax revenue is allocated, shifting it from a state-level pool to the communities generating the income. The policy directly affects eateries, caterers, grocery stores, and the municipalities receiving the redistributed funds.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects meal tax revenue to local municipalities, enhancing local fiscal control and transparency without altering tax rates. Aligns with fiscal responsibility by directing funds to revenue-generating communities.90% confidence

Sub-Topics Revenue Sales Tax

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in committee · Connecticut · Senate Feb 4, 2026

SB 68: AN ACT RESTORING THE RATE OF THE CREDIT AGAINST THE AFFECTED BUSINESS ENTITY TAX.

SB 68 restores a 93.01% tax credit against the "affected business entity tax" by amending Chapter 228z of the general statutes. This bill directly affects businesses subject to the affected business entity tax by increasing the credit they can claim against their tax liability. The key provision changes the credit rate back to 93.01%, reversing a prior reduction. This is a straightforward policy adjustment to the tax code with no additional requirements or new programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesRestores 93.01% tax credit for businesses, reducing tax liability and providing direct tax relief under Budget & Taxes policy.95% confidence

Sub-Topics Business Taxes Tax Credits

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in committee · Connecticut · Senate Feb 4, 2026

SB 71: AN ACT ESTABLISHING A TAX CREDIT FOR PREMIUM PAYMENTS FOR CERTAIN LONG-TERM CARE INSURANCE POLICIES.

SB 71 establishes a state income tax credit for individuals or groups who pay premiums for long-term care insurance policies covering home health care services. It directly affects residents purchasing qualifying long-term care insurance that provides benefits for care received in their homes. The bill allows taxpayers to reduce their state income tax liability by the amount paid in premiums for these specific policies. This policy change provides a financial incentive for securing home-based long-term care coverage.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing state income tax liability for qualifying long-term care insurance premiums, offering direct tax relief.95% confidence ✓ HealthcareSupports HealthcareBill creates tax credit for long-term care insurance premiums, directly expanding access to home health care coverage by reducing costs for consumers, advancing healthcare access.95% confidence

Sub-Topics Income Tax Procurement Tax Credits Insurance Long-Term Care

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in committee · Connecticut · Senate Feb 9, 2026

SB 98: AN ACT ESTABLISHING A CONNECTICUT DAIRY FARMER TAX CREDIT.

SB 98 establishes a tax credit program for Connecticut dairy farmers, modeled after Massachusetts' existing program. The bill directly affects Connecticut dairy farmers by providing them with tax relief to support their operations. Key provisions include creating a state-level tax credit that mirrors the structure of the Massachusetts dairy farmer tax credit, though specific credit amounts or eligibility details are not specified in the provided text. This policy change aims to bolster the state's dairy industry through targeted financial assistance.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit for dairy farmers, providing direct tax relief to support operations, aligning with tax relief indicators for Budget & Taxes.95% confidence

Sub-Topics Tax Credits

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in committee · Connecticut · House Feb 10, 2026

HB 5124: AN ACT FULLY REIMBURSING MUNICIPALITIES FOR REVENUE LOSS ASSOCIATED WITH A CERTAIN VETERANS PROPERTY TAX EXEMPTION.

HB 5124 requires the state to fully reimburse municipalities for lost property tax revenue caused by a veterans' tax exemption under Connecticut law (section 12-81(83)). It appropriates funds from the General Fund for the 2026-2027 fiscal year to cover this revenue loss directly affecting local governments. The bill creates a mechanism where municipalities submit claims for reimbursement, and the state pays the full amount of revenue lost due to the exemption. This policy change ensures municipalities aren’t financially burdened by the existing veterans' tax exemption. It applies specifically to the exemption for veterans' property tax relief established in statute.

Topics ✓ Budget & TaxesSupports Budget & TaxesState reimburses municipalities for revenue loss from veterans' tax exemption via General Fund appropriation, ensuring local budget stability and fiscal responsibility.95% confidence ✓ VeteransSupports VeteransBill fully reimburses municipalities for revenue loss from veterans' property tax exemption, preserving the benefit without financial burden on local governments.95% confidence

Sub-Topics Property Tax State Budget Tax Incentives Memorials & Recognition

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in committee · Connecticut · Senate Apr 21, 2026

SB 6: AN ACT CONCERNING SUPPORTS FOR CHILDREN AND FAMILIES.

SB 6 establishes a $600 annual tax credit per dependent child for eligible taxpayers with up to three children, phased out for higher-income households (e.g., $100k+ for single filers). It mandates all public school districts to provide free breakfast and lunch to every student in the 2027 fiscal year, funded by state grants. The bill also prohibits certain convicted individuals (e.g., for specific sex offenses) from sharing a home with a minor child unless they are the biological or adoptive parent, with exceptions for finalized adoptions. Additionally, it requires correctional facilities to notify child welfare agencies when such individuals are released, triggering case reviews for children under protective services.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides $600 annual tax credit per dependent child for eligible lower/middle-income families and funds universal school meals via state grants, advancing fiscal support for families and public services.95% confidence ✓ EducationSupports EducationMandates state-funded free school meals for all students (2027), directly increasing access and funding for K-12 schools through state grants.95% confidence

Sub-Topics Tax Credits Student Health

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in committee · Connecticut · Senate Mar 9, 2026

SB 152: AN ACT APPROPRIATING FUNDS FOR RENTAL ASSISTANCE PROGRAM HOUSING INSPECTIONS.

SB 152 appropriates $250,000 from the General Fund to the Department of Housing for the 2026-2027 fiscal year. The funds will hire additional full-time staff to inspect housing units participating in the state's rental assistance program, ensuring they comply with health, housing, building, and safety codes. This directly affects tenants in the rental assistance program and landlords receiving program funds, as inspections will verify housing safety standards. The bill takes effect July 1, 2026, and focuses solely on funding inspection staffing without changing eligibility or benefit amounts.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $250k from General Fund to fund housing inspections for rental assistance program, advancing public service funding and compliance oversight.95% confidence ✓ HousingSupports HousingFunds inspections to enforce safety standards in rental assistance program, protecting tenants and maintaining housing quality.90% confidence

Sub-Topics State Budget Renters

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in committee · Connecticut · Senate Feb 4, 2026

SB 39: AN ACT REQUIRING THE INDEXING OF INCOME THRESHOLDS FOR THE PERSONAL INCOME TAX.

SB 39 requires that the income thresholds for the state's personal income tax be automatically adjusted each year based on changes in the consumer price index (CPI). This means tax brackets will rise with inflation, preventing taxpayers from moving into higher tax brackets simply because their income hasn't kept pace with rising costs. The bill directly affects all individuals and households subject to the state's personal income tax by ensuring their tax liability doesn't increase due to inflation alone. The key mechanism is linking threshold adjustments directly to the CPI, creating a permanent, automatic update process without requiring new legislation each year.

Topics ✓ Budget & TaxesSupports Budget & TaxesPrevents inflation-driven tax hikes for middle/lower income by indexing thresholds to CPI, providing tax relief per bill summary.95% confidence

Sub-Topics Business Taxes Income Tax Sales Tax

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